SPNEC moves to comply with minimum public float

SOLAR PHILIPPINES Power Project Holdings, Inc. (SPPPHI) has donated additional shares of its listed subsidiary to Asia Pacific Institute for Green Development, Inc. (Green Development) to comply with the stock exchange’s minimum public ownership (MPO) requirement.   Source: Business World

Metro Pacific poised to become SPNEC’s largest shareholder

METRO Pacific Investments Corp. (MPIC) said on Monday that it had completed the acquisition of 1.6-billion common shares or an equivalent of 16% of the outstanding shares in SP New Energy Corp. (SPNEC). In a regulatory filing, MPIC said that an agreement was also executed granting it an option to acquire up to 10-billion primary […]

Capitalizing on a sunrise industry

LEANDRO LEVISTE was only 20 years old when he said he started investing in Tesla and Solar City, both US companies that specialized in manufacturing solar panels. He observed that when the stock price of Tesla did well, it illustrated that the market had underestimated the potential for solar energy. Inspired by this, he believed […]

SPNEC adjusts price range of stock rights offering

SOLAR Philippines Nueva Ecija Corp. (SPNEC) has adjusted the price range of its stock rights offering to P1.50 to P1.75 per share, saying it was doing so “in the interest of the success” of the fundraising. In its disclosure on Tuesday, the company also highlighted the option to pay in installments, with a downpayment of […]

SPNEC aims to raise P10B for 10-GW solar projects

SOLAR Philippines Nueva Ecija Corp. (SPNEC) on Monday said it plans to offer 5.12 billion shares to the public so it can raise P10 billion for the completion of its solar projects with a combined capacity of 10 gigawatts (GW). In a disclosure to the stock exchange, SPNEC said it aims to raise the funds […]

SPNEC board approves stock rights offering

SOLAR Philippines Nueva Ecija Corp. (SPNEC) said its board of directors had approved its plan to conduct a stock rights offering (SRO) to buy land for the development of 10 gigawatts (GW) of solar projects. In a disclosure to the exchange on Monday, SPNEC said its board during its Feb. 14 meeting had given the […]

Solar Philippines pushes for collaboration with other power companies

Solar Philippines Power Holdings, Inc. (SPPHI) said the country can achieve its goal of increasing the share of clean energy sources through collaborations between power companies.  “We believe that the best way to bring change to the Philippine power industry is not to compete with the country’s power companies, but to convince them that solar […]

DoE clears Solar Philippines unit for green energy program

SOLAR Philippines Retail Electricity, Inc. is the newest participant in the government’s green energy option program (GEOP), bringing the number of eligible renewable energy (RE) suppliers to 14. In an announcement posted on its website this week, the Department of Energy (DoE) said the company joins power suppliers under First Gen Corp., AC Energy Corp. […]